If you have an entrepreneurial mindset, you know that while it may provide many opportunities, it can also present challenges. You have big ideas and want to turn them into reality, but sometimes those big ideas can get out of hand, and it can be challenging to mold them into something that stands a chance of success. But the truth is that you are likely not alone. 55% of adults in the U.S. have started at least one business in their lifetime, and of those, just over 20% were able to find success. Knowing you aren’t alone and you aren’t the only one trying to overcome entrepreneurial challenges can help keep your focus in check and your eyes on the prize.
Don’t try to be everything for everybody
Think about the last restaurant you went to that had just about any menu choice you could imagine. You were likely overwhelmed trying to decide what to order. Not only that, but it made you question what they were great at. The best entrepreneurs focus on a singular product or suite of products or solutions that serve a particular niche’s needs. So, consider it is what you’re great at and how you believe that can solve a need. Then research the market and competition to see how sustainable and scalable your offering might be.
Find the right talent to support you along the way
Every great business needs great people. But when you’re just out of the gates, you need people with the energy and determination you do. Getting a business off the ground takes diligence, perseverance, and even a bit of stamina. Take some time to outline the key roles that can help your business be successful. For example, if you’re a copywriter, you may need a digital marketer to help you get the word out about all the great words you can write for business web pages. Or, you may need additional writers to help manage the workflow. Be thoughtful about your needs, and then determine if you need to hire in-house or if an external third party might be more beneficial to you. Remember that not everyone you hire needs to have a full-time role either. In today’s modern businesses, hybrid, remote, and part-time roles abound.
Get laser-focused on marketing and advertising
Business can only grow and scale if your target market knows you exist. And remember, drawing a crowd takes more than word of mouth. It takes more than one message to help your business stick in your prospective customer’s memory banks. To draw the best attention, you will likely need a business website with ongoing content geared towards educating customers about who you are and what you do and that the bots will love so that you can rank high in the SERPs (search engine ranking pages). Hiring a third-party digital marketing agency or using marketing resources from businesses like REI Blackbook can help you do all those things while you stay focused on what you do best – running your business.
Find a work-life balance
Just as starting a new business and embracing your entrepreneurial mindset takes lots of work, it can be exciting too. This is why so many entrepreneurs and business owners work themselves to the bone to ensure their business stands the best chance of success. But unfortunately, humans can only do so much. We wear out. We burn out. We become complacent and miss new opportunities. The most successful entrepreneurs figure out a work-life balance early on. They know when to “shut it down” and when to stay focused. Figure that balance out for yourself. Take time with your family daily, and always appreciate the value of self-care and a good night’s sleep. Your family, friends, colleagues, and business will thank you.